Jeramey Jannene
Eyes on Milwaukee

Foxconn Hiring Real Estate Specialists

Three specialists sought. But what's left to buy?

By - Sep 11th, 2018 02:11 pm
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Foxconn's North American. Photo by Jeramey Jannene.

Foxconn’s North American. Photo by Jeramey Jannene.

Foxconn appears intent on acquiring even more land in Wisconsin.

The Taiwanese electronics manufacturer has posted three job openings for Milwaukee-based positions related to “real estate acquisitions.”

What’s left to acquire is unclear. Construction is already underway at the massive manufacturing site in southern Racine County and the company paid $14.95 million for a downtown Milwaukee office building in June. The company has announced it will create innovation centers in Green Bay and Eau Claire, but when asked by Urban Milwaukee in the past hasn’t offered much detail, “declining to disclose the purchase price on the buildings, their owners or whether the purchase will occur before or after the November election.”

The job description doesn’t offer much guidance: “The Director of Real Estate Acquisitions, will originate, manage and close real estate acquisition transactions. The ideal candidate will bring experience and expertise in sourcing, underwriting and negotiating the acquisition of assets. He or she will be adept at handling high-level owner and broker communications, relationships and negotiations, and will be able to work independently and in collaboration with acquisitions team to achieve a very high level of success in identifying and negotiating terms for accretive transactions.”

One potential role for the Director of Real Estate Acquisitions could be assembling the land for a rumored “smart city.” The plan, as described by multiple sources earlier this year, would have Foxconn creating a modern company town near the “Wisconn Valley” manufacturing site for workforce housing. Plans for that project were in their early stages when shared with Urban Milwaukee.

According to additional job postings, the Director will be joined by an “Associate of Real Estate Acquisitions” and “Manager of Real Estate Acquisitions.” Compensation for the positions is not listed, but full health care benefits will be provided as well as 20 total vacation days and holidays.

The company has remained steadfast in stating it still intends to employ 13,000 people in Wisconsin, even as plans for the manufacturing campus have evolved.

And while there aren’t currently 13,000 job listings posted online, there are a growing number. The company has postings for everything from a Director of Business Development to an HR Intern. Job-tracking website Indeed lists 89 positions, many related to the construction of the new facility in southern Racine County.

A Wisconsin Economic Development Corporation report from 2017 estimated the company would have 1,040 employees in Wisconsin by the end of 2018, and an additional 1,040 employees in 2019.

The company already has a number of employees in a temporary facility near the future manufacturing site.

A request for comment by Foxconn on the role of Director of Real Estate Acquisitions and the number of Wisconsin employees was not provided by the time of publication. This article will be updated as more information becomes available.

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Categories: Eyes on Milwaukee, Real Estate

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